Black Money

In the biggest single cash seizure of the new currency, an Income Tax raid on the premises of two engineers and two contractors in Bengaluru found a whopping Rs 5.7 crore of cash, all in the recently-introduced Rs 2000 notes.

The Income Tax department said it ...

A new black money estimate calculated by senior economists of the Bank of Italy has pegged Indian's undeclared assets parked overseas in tax havens to be between $4 billion (nearly Rs 27,000 crore) and $181 billion (nearly Rs 12.05 lakh crore) according to two different ...